The finance ministry's economic affairs department said in its monthly review for October that demand would pick up further, supply chains would be fully restored, the demand-supply gap would narrow and more jobs would be created.
In the first quarter of the current financial year, the gross fixed capital formation has increased by 3%, as against 2.3% in the corresponding period of the previous financial year. However, compared to the first quarter of 2030 before Covid, the total fixed capital formation in the first quarter of FY208 was down by 7.5 per cent. But the investment cycle, especially in the private sector, has not picked up yet.
However, the department has taken a cautious approach to core retail inflation. Prices of non-food and non-oil products in this category rose to 4.5 per cent in September.
In its monthly review for October, the finance ministry said it hoped the reduction in excise duty on petrol and diesel would ease inflationary pressures. Citing data from the Confederation of All India Traders, it said economic recovery has accelerated during the festive season and Diwali has seen sales of Rs 1.5 lakh crore, the highest in a decade.
The department has also mentioned the contribution of the Self-Reliant India Campaign in economic reform. This indicates an increase in trade opportunities and means of increasing costs. The Department of Economic Affairs, citing the WTO forecast for global trade prospects for October, said that it also fits well with India. The country's exports will grow rapidly in the near future and the International Monetary Fund also predicts that India will become the fastest growing major economy this year and in the years to come. The International Monetary Fund (IMF) has projected India's economic growth to be 7.5 per cent in the current financial year and 7.5 per cent next year.
Big companies get stronger, smaller ones get worse
The results of the companies for the July-September quarter are now almost public. These results show that the country's economic growth has been revived by Corona's clothes. Both sales and profits of companies have improved. Not only has it improved, but it is also growing faster than the period before April-June 2021 or Corona. The biggest challenge, however, is rising prices. Companies have shown a decline in overall operating profit. The big companies (with sales of over Rs 50 crore) have done better. Companies with sales of less than Rs 5 crore have seen a decline in sales and a 30 per cent decline from the previous year in 2013. Sales of small companies between Rs 5 crore and Rs 5 crore have improved but are still making a loss. The losses of these companies have increased as compared to the previous year i.e. 2013 and 2020. These companies seem to be fighting for survival.
The above figures show that large companies with strong financial strength are getting better due to the mandatory lockdown and subsequent enforcement of social distance rules due to Covid but the situation of small and micro companies is getting worse.
My dear readers around the globe, it is a great privilege to tell you about this great man who helped me overcome the tragedy in my relationship, and how his herbal medicine helped me too. My relationship became so complicated to a stage that I was scared of losing my wife to another, lasting long in bed was a problem and I knew deep down in my that my wife was not happy about it. Sometimes when I asked for sex the way she would act before the sex I noticed it was because I was not satisfying her, when she needed it more I hard already come and it was not the best. So I needed to find solution that was how I came in contact with DR THOMAS he really changed my sex life and ever since then life has been fun because my wife now love me more than she used to, all thanks to DR THOMAS for this great thing he did for me.. If you ever need help with any kind of sickness like DIABETES.. HERPES.. you can visit DR THOMAS for a solution (Doctorthomas73@gmail.com) or what's app (+22964897222)...
ReplyDelete